No personal guarantee with only 6 months in biz
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  1. #1
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    No personal guarantee with only 6 months in biz

    Anyone? I have a client that is doing 180k per month, and is only 6 months in business. They will not sign a personal guarantee. They also have few monthly deposits (3-4). 650 credit. Anyone? Bueller? Bueller?

  2. #2
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    Quote Originally Posted by Christian View Post
    Anyone? I have a client that is doing 180k per month, and is only 6 months in business. They will not sign a personal guarantee. They also have few monthly deposits (3-4). 650 credit. Anyone? Bueller? Bueller?
    Christian,

    We have provided factoring facilities requiring a validity guarantee instead of personal. We would need to learn a lot more about the business and owners.
    Kevin Henry
    VP-Business Development
    Seacoast Business Funding, a division of Seacoast Bank
    561-850-9346
    Kevin.Henry@SeacoastBF.com
    1880 N Congress Ave., Suite 404
    Boynton Beach, FL 33426

  3. #3
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    Quote Originally Posted by AdvanceFund View Post
    What do you mean by "personal guarantee?" MCA is unsecured in nature.
    What do you mean "what do you mean"? Almost every contract is PG'd by the ownership in a closely held company. Is this your first day?

  4. #4
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    Quote Originally Posted by AdvanceFund View Post
    What do you mean by "personal guarantee?" MCA is unsecured in nature.
    Looking for a daily ACH advance product. Most of which, though structure similar to an MCA, require a personal guarantee.

  5. #5
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    Quote Originally Posted by AdvanceFund View Post
    E-mail me.
    They have no AR. Services are paid for via wire in advance. They also don't accept credit cards. Still want me to email you?

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